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OFT examines Barclays' takeover of ING Direct
November 6, 2012 / 12:24 PM / 5 years ago

OFT examines Barclays' takeover of ING Direct

A logo of Barclays bank is seen outside a branch in Altrincham, northern England April 26, 2012. REUTERS/Phil Noble

LONDON (Reuters) - Office of Fair Trading on Tuesday said it would scrutinise Barclays’ (BARC.L) planned takeover of Dutch rival ING’s British retail banking business to make sure it would not restrict competition.

The OFT, a consumer watchdog, said parties with comments about how the deal might affect competition should submit them by November 20.

Barclays said it had agreed to take over ING Direct on October 9.

Reporting by Myles Neligan

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